Careers

global wealth management - what exactly is it?

  • Last Updated:
  • Jul 12th, 2012 8:34 pm
Tags:
None
[OP]
Jr. Member
Oct 2, 2007
106 posts
7 upvotes

global wealth management - what exactly is it?

hey i was looking into global wealth management at a canadian bank and was wondering what the job actually entails

heres a couple of questions:

what exactly do you do?
whats the starting pay like, bonuses?
what are the exit opportunities?
is it strictly a 9-5 job or can work hours fluctuate?
9 replies
Deal Addict
Sep 30, 2008
1277 posts
310 upvotes
well, as nobody helps u, I will take a shot at it, though i am not in global weath mgmt.

I imagine that is a like a financial advisor, but the job relates to helping wealthy clients to move money around the world, especially to countries with more favourable tax rates.

You pay depends on your education, work experience, companies u work for, and the soft personal skills of you.
[OP]
Jr. Member
Oct 2, 2007
106 posts
7 upvotes
thanks for the reply,
focussing on the pay aspect, lets say you graduate from richard ivey with a 4 month internship, what would the starting pay be like

btw theres not much info on global wealth management on the internet eh
Deal Addict
Sep 30, 2008
1277 posts
310 upvotes
sunny5011 wrote: thanks for the reply,
focussing on the pay aspect, lets say you graduate from richard ivey with a 4 month internship, what would the starting pay be like
I would guess the starting salary would be similar to what a finance graduate would get - between $45k to 65k, depending on your marks upon graduation, how big the company u work with, your related summer job experiences, the university u graduated from, etc.
Deal Addict
Jun 4, 2006
2069 posts
50 upvotes
Give the name of the position and bank and it would be a lot easier.
If you are actually coming of a HBA from a top school. I would say you need to focus on working in the right office and under the right adviser.

Your OP, though shows you have not done any research yourself at all, bit had to help when you start at 0.
[OP]
Jr. Member
Oct 2, 2007
106 posts
7 upvotes
adehbone wrote: Give the name of the position and bank and it would be a lot easier.
If you are actually coming of a HBA from a top school. I would say you need to focus on working in the right office and under the right adviser.

Your OP, though shows you have not done any research yourself at all, bit had to help when you start at 0.
lets say scotia or td and entry level position
i tried researching on the subject but everything i found was on private wealth management and not much on global wealth management
Deal Addict
Jun 4, 2006
2069 posts
50 upvotes
sunny5011 wrote: lets say scotia or td and entry level position
i tried researching on the subject but everything i found was on private wealth management and not much on global wealth management
Same thing, its just marketing. Whatever word they want to use. You help manage high networth client's cash into various asset classes.
Have known people at BMO/RBC/Scotia Mcleod never TD.

Basically you start out by doing all the grunt work of the top advisers, be it filing papers, simple models, getting research, making sure all client requests and thoughts are taken care of. After sometime start to interact more directly with clients and then finally given the right tools to find clients. Those top banks and their top advisers will not throw a phonebook at you day 1 and say "SELL SELL SELL i.e will smith movie".

Pay, prolly max 50k. Bonuses, totally depends since the advisers will be paying you directly out of their pool, depends how quickly you pick up things and how much value you add.

Hours? Yes 9-5 sounds right, basically right before open and but after close. You need to be there to field client calls and follow up with things in quick manner during the day. After a while, hours change as you get more direct interaction with clients. Most of the banks top advisers will advise their younger staff to come out on networking events be it at brandthouse on a friday, charity events etc...They also will you encourage to do things like United Way, or train for runs etc...things to build a network and grow your image.

Smart but not too smart, well-rounded, hard working people do the best in that industry.
Deal Addict
Mar 24, 2005
1360 posts
112 upvotes
It's just wealth management but with access to world markets/exchanges, ability for settlement in those time zones, etc.

It really depends on what role you are going into because you could be in the back office too.
[OP]
Jr. Member
Oct 2, 2007
106 posts
7 upvotes
thanks everyone for the info, gwm doesnt really seem something i would be interested then (too much of a sales job)

Top